Empire State Development Micro Enterprise Loan Fund - Bronx Overall Economic Development Corporation
Small MWBE microloans for Bronx vendors and microbusinesses in Community Districts 1 through 4.
About this program
Empire State Development's Micro Enterprise Loan Fund capitalizes locally administered revolving loan funds for small loans to minority- and woman-owned business enterprises. In the Bronx, the participating lender is the Bronx Overall Economic Development Corporation, serving vendors at the Bronx Sunday Market and microbusinesses in Bronx Community Districts 1 through 4. Loans may be used for acquisition or improvement of real property and the purchase of machinery and equipment, with a maximum term of 24 months.
Eligibility
Small, high-risk, for-profit MWBE businesses with no more than $100,000 in annual gross revenue, including vendors at the Bronx Sunday Market and microbusinesses in Bronx Community Districts 1 through 4.
Requirements
- Be a small, high-risk, for-profit business
- Qualify as a minority-owned or woman-owned business enterprise
- Have annual gross revenue of $100,000 or less